Ghana's Central Bank Governor Denies Cedi Manipulation

Ghana's Central Bank Denies Cedi Manipulation Claims Accra, Ghana – Dr. Johnson Asiamah, Governor of the Bank of Ghana (BoG), has dismissed claims that the Central Bank is artificially manipulating the cedi's recent appreciation. Speaking at the Ghana CEO Summit, Asiamah stated, "The Central Bank is not using its international reserves to support the cedi." He attributed the currency's strengthening to a combination of disciplined monetary policy, reforms in foreign exchange auctions, and improved remittance channels. Asiamah emphasized that the cedi's rise is market-driven and not the result of deliberate intervention. He detailed the BoG's efforts to enhance market surveillance and maintain macroeconomic stability. The Governor's comments aim to alleviate concerns about potential artificial manipulation of the exchange rate and reassure stakeholders of the Central Bank's commitment to a transparent and sustainable approach. The Ghana CEO Summit provided a platform for this crucial clarification, underscoring the importance of open communication between the Central Bank and the business community. The Governor's clear and direct denial of manipulation contributes to public confidence in the stability of Ghana's economy.